Code of Alabama
Title 8 - Commercial Law and Consumer Protection.
Chapter 6 - Securities.

Section 8-6-5 - Registration of Securities - Registration by Notification. - (a) The following securities may be registered by notification, whether...

Section 8-6-6 - Registration of Securities - Registration of Certain Securities by Coordination. - (a) Any security for which a registration statement has been...

Section 8-6-7 - Registration of Securities - Registration by Qualification. - (a) Any security may be registered by qualification. (b) A...

Section 8-6-8 - Registration of Securities - Registration Statement; Conditions Precedent; Bond; Notice of Action; Fees; Quarterly Reports and Financial Statements; Discharge From Supervision. - (a) A registration statement on securities may be filed by...

Section 8-6-9 - Registration of Securities - Denial, Suspension and Revocation of Registration. - The Securities Commission shall issue an order denying effectiveness to,...

Section 8-6-10 - Registration of Securities - Exempt Securities. - Sections 8-6-4 through 8-6-9 shall not apply to any of...

Section 8-6-11 - Registration of Securities - Exempt Transactions. - (a) Except as hereinafter in this section expressly provided, Sections...

Section 8-6-12 - Registration of Securities - Applicability of Provisions of Article; Consent to Service of Process on Secretary of State. - (a) The provisions of this article shall apply to persons...

Section 8-6-14 - Filing or Registration Not Finding of Truth, Completeness, etc., of Documents; Representations Concerning Effect of Registration or Exemption. - (a) Neither the fact that an application for registration under...

Section 8-6-15 - Investigations and Subpoenas by Commission. - (a) The Securities Commission, in its discretion, may: (1) Make...

Section 8-6-16 - Administrative Cease and Desist Authority to Commission; Injunctive Relief; Appointment of Receivers or Conservators for Defendants or Defendants' Assets; Court Ordered Rescission, Restitution, or Disgorgement for Violations. - Whenever it appears to the Securities Commission that any person...

Section 8-6-17 - Prohibited Acts Regarding Offer, Sale, or Purchase of Securities. - (a) It is unlawful for any person, in connection with...

Section 8-6-18 - Criminal Penalties for Violations of Article; Enforcement; Scienter. - (a) A person who willfully violates Section 8-6-3 or Section...

Section 8-6-19 - Civil Liabilities of Sellers, Agents, etc.; Remedies of Purchasers. - (a) Any person who: (b)(1) Any person who engages in...

Section 8-6-21 - Commission Authorized to Swear Out Warrants of Arrest; Liability of Commission for Warrant. - The Securities Commission is authorized and empowered to swear out...

Section 8-6-22 - Duties of Director; Director Empowered to Swear Out Warrants of Arrest; Liability of Director for Warrant. - The Director of the Securities Commission shall keep the records...

Section 8-6-23 - Making, Amending, and Rescinding Rules and Prescribing Forms by Commission. - The Securities Commission may from time to time make, amend,...

Section 8-6-24 - Liability for Acts Done or Omitted in Good Faith Under Rules, Forms, or Orders. - No provision of this article imposing any liability applies to...

Section 8-6-25 - Hearings to Be Public; Requests for Private Hearings. - Every hearing in an administrative proceeding shall be public unless...

Section 8-6-26 - Document Deemed Filed When Received. - A document is deemed filed when it is received by...

Section 8-6-27 - Commission to Keep Register; Register to Be Open for Public Inspection. - The Securities Commission shall keep a register of all applications...

Section 8-6-28 - Commission to Furnish Copies of Register Entries or Documents; Certified Copy Deemed Prima Facie Evidence. - Upon request and at such reasonable charges as it prescribes,...

Section 8-6-29 - Interpretative Opinions by Commission. - (a) The Securities Commission, in its discretion, may honor requests...

Section 8-6-30 - Burden of Proving Exemption or Exception From Definition. - In any proceeding under this article, the burden of proving...

Section 8-6-31 - Commission May Issue Warnings to Public and Publish Information Regarding Orders. - The Securities Commission may issue and give warnings to the...

Section 8-6-32 - Party Aggrieved by Order Entitled to Hearing Before Commission; Appeals From Action of Commission. - (a) Any person aggrieved by an order issued under this...

Section 8-6-33 - Disposition of Revenue. - All moneys accruing to or collected by or through the...

Article 2 - Securities Commission.

Section 8-6-50 - Created; Duties Generally. - There is created the Alabama Securities Commission, which shall be...

Section 8-6-51 - Membership; Qualifications and Appointment of Commissioners; Use or Disclosure of Confidential Information by Commissioners, Employees, etc.; Civil Liability of Commissioners. - (a) The Securities Commission shall consist of the Attorney General...

Section 8-6-52 - Terms of Office of Appointed Members; Filling of Vacancies; Reappointment of Members. - (a) The Governor shall biennially appoint one Securities Commission member...

Section 8-6-53 - Selection of Chair; Rules for Proceedings; Meetings; Quorum; Records and Reports; Access to Offices and Records; Exercise of Powers of Director. - (a) The Securities Commission shall select a chair and may...

Section 8-6-54 - Compensation of Members. - (a) Each appointed member of the Securities Commission shall be...

Section 8-6-55 - Director - Appointment; Duties Generally. - (a) The Securities Commission shall appoint a full-time director who...

Section 8-6-56 - Director - Qualifications; Interest in Banks, etc., Prohibited; Salary. - (a) The Director of the Securities Commission shall be a...

Section 8-6-57 - Deputy Director. - (a) With the approval of the Securities Commission and subject...

Section 8-6-58 - Personnel. - (a) The Director of the Securities Commission shall prepare in...

Section 8-6-59 - Bonds of Director and Employees. - (a) Before assuming office, the Director of the Securities Commission...

Section 8-6-60 - Place of Office. - The Securities Commission and the director thereof shall maintain offices...

Article 4 - Ownership by Minors.

Section 8-6-90 - Short Title. - This article may be cited as the Securities Ownership by...

Section 8-6-91 - Definitions. - In this article, unless the context otherwise requires, the following...

Section 8-6-92 - Liability of Bank, Transfer Agent, etc., for Treating Minor as Having Capacity to Exercise Security Rights; Presumption That Holder Not Minor. - (a) A bank, broker, issuer, third-party or transfer agent incurs...

Section 8-6-93 - Minor May Not Disaffirm Security Transaction Unless Prior Written Notice of Minority Given. - A minor who has transferred a security, received or empowered...

Section 8-6-94 - Right of Minor to Receive Dividends, Etc. - A minor may receive in his own right dividends or...

Section 8-6-95 - Certain Laws Not Affected by Article. - Nothing in this article shall be construed to repeal or...

Article 5 - Pre-Issuance Procedure for Industrial Revenue Bonds.

Section 8-6-110 - Definitions. - The following words and phrases, as used in this article,...

Section 8-6-111 - Legislative Findings; Purpose of Article. - (a) The Legislature finds and determines that unscrupulous promoters may...

Section 8-6-112 - Powers of Director of Securities Commission. - (a) The director shall have authority to: (1) Consider and...

Section 8-6-113 - Powers of Securities Commission. - (a) The commission may: (1) Stop the issuance of industrial...

Section 8-6-115 - Notifications of Intent to Issue Bonds. - On and after May 27, 1978, any issuer proposing to...

Section 8-6-116 - Action by Director Upon Receipt of Notification; Stop Orders. - Upon receipt of a notification, the director shall cause a...

Section 8-6-117 - Appeals or References to Securities Commission. - When a stop order has been issued by the director,...

Section 8-6-118 - Proceedings Before Securities Commission. - When the matter of any proposed industrial revenue bond issue...

Section 8-6-119 - Judicial Validation Proceedings. - Any judicial validation proceeding instituted under this article shall conform...

Section 8-6-120 - Certificate of Notification; Representation That Industrial Revenue Bonds Have Been Approved Prohibited. - In the event that (1) 20 days shall have expired...

Section 8-6-121 - Criminal Penalties. - Any lessee, any guarantor, or any officer of any issuer,...

Section 8-6-122 - Article Remedial; Certain Statutes Not Repealed. - This article is remedial in nature and shall not be...

Article 6 - Uniform Transfer on Death Security Registration Act.

Section 8-6-140 - Definitions. - For the purposes of this article, the following words have...

Section 8-6-141 - Registration - Beneficiary Form. - Only individuals whose registration of a security shows sole ownership...

Section 8-6-142 - Registration - Authorization. - A security may be registered in beneficiary form if the...

Section 8-6-143 - Registration - Designation of a Beneficiary. - A security, whether evidenced by certificate or account, is registered...

Section 8-6-144 - Registration - Applicable Language. - Registration in beneficiary form may be shown by the words...

Section 8-6-145 - Designation of Tod; Registration Cancelled or Changed. - The designation of a TOD beneficiary on a registration in...

Section 8-6-146 - Death of Owner. - On death of a sole owner or the last to...

Section 8-6-147 - Assent of Owner; Discharge From Claims. - (a) A registering entity is not required to offer or...

Section 8-6-148 - Transfer on Death. - (a) A transfer on death resulting from a registration in...

Section 8-6-149 - Terms and Conditions of Registration. - (a) A registering entity offering to accept registrations in beneficiary...

Section 8-6-150 - Short Title; Construction. - (a) This article shall be known as and may be...

Section 8-6-151 - Application. - This article applies to registrations of securities in beneficiary form...

Article 7 - Protection of Vulnerable Adults From Financial Exploitation Act.

Section 8-6-170 - Short Title. - This article shall be known and may be cited as...

Section 8-6-171 - Definitions. - In this article, unless the context otherwise requires, the following...

Section 8-6-172 - Notification of Department and Commission - Disclosure of Information. - If a qualified individual reasonably believes that financial exploitation of...

Section 8-6-173 - Notification of Department and Commission - Liability. - A qualified individual that in good faith and exercising reasonable...

Section 8-6-174 - Notification of Certain Third Parties - Disclosure of Information. - If a qualified individual reasonably believes that financial exploitation of...

Section 8-6-175 - Notification of Certain Third Parties - Liability. - A qualified individual that, in good faith and exercising reasonable...

Section 8-6-176 - Delay of Disbursement - Authorized. - (a) A broker-dealer or investment adviser may delay a disbursement...

Section 8-6-177 - Delay of Disbursement - Liability. - A broker-dealer or investment adviser that, in good faith and...

Section 8-6-178 - Access to and Availability of Records. - A broker-dealer or investment adviser shall provide access to or...

Section 8-6-179 - Rulemaking Authority. - The commission, from time to time, may make, amend, and...

Article 8 - Elderly and Vulnerable Adult Financial Protection Act of 2021

Section 8-6-190 - Short Title. - This article shall be known and may be cited as...

Section 8-6-191 - Legislative Findings. - The Legislature finds that instances of financial exploitation are on...

Section 8-6-192 - Definitions. - As used in this article, unless the context requires otherwise,...

Section 8-6-193 - Authority to Refuse or Delay Execution of a Financial Transaction. - (a)(1) If a financial service provider has reasonable cause to...

Section 8-6-194 - Financial Service Provider Authorized to Contact Certain Individuals or Entities Upon Suspicion of Financial Exploitation; Disclosure of Information. - (a) A financial service provider may offer to a customer...

Section 8-6-195 - Construction and Application of Article. - (a) All laws or parts of laws which conflict with...

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Code of Alabama Title 8 - Commercial Law and Consumer Protection. Chapter 6 - Securities.

Code of Alabama
Title 8 - Commercial Law and Consumer Protection.
Chapter 6 - Securities.